From 24/7 Wall St. · David Moadel · · 1m 30s
Drone Stocks Rally as High-Beta Small Caps Lead
Red Cat jumps 10% as drone stocks surge.
In brief
Red Cat jumps 10% as drone stocks surge. Red Cat Holdings stock rose 10% after a 39% year-to-date decline, while Ondas Inc. climbed 8% and AeroVironment gained 2% in afternoon trading. Originally reported by 24/7 Wall St..
Drone Stocks Rally
Small-cap drone names are surging while the sector's established defense player barely budges.
Red Cat Jumps 10%
Red Cat Holdings stock is at $4.84, up 10% in afternoon trading, putting the small-cap drone maker at the front of the group.
Red Cat Down 39% YTD
Even after that surge, Red Cat stock is down 39% year to date, so the rebound is starting from a deeply bruised base.
Ondas Climbs 8%
Ondas Inc. stock is at $6.66, up 8%, keeping pace just behind Red Cat stock as the second-strongest name in the group.
AeroVironment Ticks Up 2%
AeroVironment stock is at $128.03, up 2%, a much milder gain that leaves the sector’s larger, established name trailing both small caps by a wide margin.
Defiance Drone ETF Up 5%
The Defiance Drone and Modern Warfare ETF is up 5%, with Ondas and Red Cat ranked among its larger disclosed holdings as of June 30.
Red Cat Aerial Launch
Red Cat launched Red Cat Aerial earlier this month, combining its Teal Drones and FlightWave Aerospace teams with TRICHON, a hand-launched tricopter for intelligence, surveillance and reconnaissance missions.
The bottom line
Red Cat Holdings stock rose 10% after a 39% year-to-date decline, while Ondas Inc. climbed 8% and AeroVironment gained 2% in afternoon trading.
